Core Insights - Quantum investment is positioned as a long-term strategic value rather than a short-term speculation, especially in the context of global technological competition [1] - The roundtable discussion focused on evaluating the long-term value of quantum technology and how to accurately grasp investment timing [1] Group 1: Investment Dynamics - The core of quantum investment lies in the "change" and "unchange," with a consistent belief in the long-term prospects of the quantum industry [2] - Investment logic has shifted from pure technology innovation to a focus on commercial pathways and application scenarios as companies mature [5][6] - The investment community is increasingly prioritizing commercial viability alongside technological advancement, indicating a transition from "technology faith" to "technology + commercial landing" [5][6] Group 2: Sino-US Investment Differences - The disparity in quantum investment between China and the US is narrowing, with China expected to see significant capital influx in the coming year [8][10] - China's unique industrial structure leads to a perception of a larger gap, but the total hard technology investment is comparable [8] - The Chinese market benefits from a centralized system that allows for rapid commercialization and application of quantum technologies [14][15] Group 3: Investment Strategies and Team Evaluation - Investment strategies are evolving towards multi-track layouts, with a focus on high-growth potential projects [15] - The emphasis on team capabilities and their alignment with application scenarios is critical for investment decisions [15][16] - Investors are advised to adopt a long-term perspective and maintain curiosity about emerging opportunities [16][17] Group 4: Recommendations for Investors and Entrepreneurs - Investors should adopt a mindset of "starting with the end in mind," focusing on long-term goals while remaining flexible in their strategies [16] - Entrepreneurs are encouraged to consider the threefold value of technology, team capability, and commercial viability when developing their ventures [20] - The rapid commercialization of quantum technologies in China is highlighted as a significant advantage for both investors and entrepreneurs [20] Conclusion - The roundtable discussion outlines a clear vision for quantum investment, emphasizing long-term value as a cornerstone, with technology iteration as a variable and commercial landing as an accelerator [21] - Despite differences in capital market structures, China's advantages in policy support and rapid application development position it favorably in the quantum investment landscape [21]